Wound Care (Pharmacies) - Belgium

Belgium

Highlights

Revenue in the Wound Care market is projected to reach US$14.01m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.23%, resulting in a market volume of US$14.17m by 2029.
In global comparison, most revenue will be generated United States (US$1.04bn in 2024).
In relation to total population figures, per person revenues of US$1.20 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Wound Care (Pharmacies) market in Belgium is experiencing steady growth due to several factors. Customer preferences in the Wound Care (Pharmacies) market in Belgium are driven by the increasing awareness about wound care and the desire for effective and convenient products. Customers are seeking products that are easy to use and provide quick relief from wounds. Additionally, there is a growing preference for natural and organic wound care products, as customers are becoming more conscious about the ingredients used in these products. Trends in the Wound Care (Pharmacies) market in Belgium include the rising demand for advanced wound care products. With the increasing prevalence of chronic wounds and the aging population, there is a growing need for products that can promote faster healing and reduce the risk of infection. As a result, there is a shift towards the use of products such as hydrogels, foam dressings, and antimicrobial dressings. Another trend in the market is the increasing adoption of telemedicine and digital health solutions for wound care. These technologies allow healthcare professionals to remotely monitor and manage wounds, providing convenience and efficiency for both patients and healthcare providers. This trend is particularly relevant in Belgium, where the healthcare system is well-developed and there is a strong emphasis on innovation and technology in healthcare. Local special circumstances in Belgium that impact the Wound Care (Pharmacies) market include the presence of a highly regulated healthcare system and a strong network of pharmacies. Belgium has a universal healthcare system, which ensures that all residents have access to healthcare services, including wound care. This creates a favorable environment for the growth of the Wound Care (Pharmacies) market, as there is a consistent demand for these products. Additionally, the presence of a large number of pharmacies in Belgium makes it convenient for customers to access wound care products. Underlying macroeconomic factors that contribute to the development of the Wound Care (Pharmacies) market in Belgium include the country's stable economy and high healthcare expenditure. Belgium has a well-developed economy and a high standard of living, which allows customers to afford and prioritize their healthcare needs. The government also invests a significant amount of resources in healthcare, which further supports the growth of the Wound Care (Pharmacies) market. Furthermore, the aging population in Belgium is driving the demand for wound care products, as older individuals are more prone to chronic wounds and require specialized care. Overall, the Wound Care (Pharmacies) market in Belgium is growing steadily due to customer preferences for effective and convenient products, the adoption of advanced wound care technologies, the presence of a regulated healthcare system and a strong network of pharmacies, and underlying macroeconomic factors such as a stable economy and high healthcare expenditure.

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.